2006-09-07 22:06:53 · 7 answers · asked by winbig 1 in Business & Finance ➔ Renting & Real Estate
means the owner either never lived in it, or doesnt live in it at the time
2006-09-07 22:08:51 · answer #1 · answered by daddysboicub 5 · 0⤊ 0⤋
Yes, as everyone has pointed out, it does mean that it is not occupied by the owner. It should be rented.
But here are some effects of it.
1. The renter may not necessarily take as much care as the owner.
2. Since the owner does not live in the property, s/he does not know of the problems and hence lacking in attention to the property details.
3. The property may be subject to a 1031 exchange as that's an income property for the seller.
I hope that helps,
Best regards,
Amol.
PS: I am a Licensed Realtor in Sunnyvale working with Century 21 El Camino.
2006-09-08 09:10:45 · answer #2 · answered by amolheda 3 · 0⤊ 0⤋
It means the owner does not live in the property.
2006-09-08 08:38:57 · answer #3 · answered by Karen R 3 · 0⤊ 0⤋
It means that the owner does not live there.
2006-09-08 08:40:01 · answer #4 · answered by mortgage_info_4u 2 · 0⤊ 0⤋
Non owner occupied is rental property.
2006-09-08 08:22:25 · answer #5 · answered by Barbwired 7 · 0⤊ 0⤋
Investment property or rentals.
2006-09-08 06:45:23 · answer #6 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
it means a house someone is renting or leasing.
2006-09-08 05:57:47 · answer #7 · answered by sophieb 7 · 0⤊ 0⤋